Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 653,604 shares of the transportation company’s stock after selling 1,546 shares during the quarter. Thrivent Financial for Lutherans owned about 0.30% of Old Dominion Freight Line worth $115,427,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $27,000. Raleigh Capital Management Inc. bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $29,000. Neo Ivy Capital Management acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth approximately $40,000. Farmers & Merchants Investments Inc. grew its holdings in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares in the last quarter. Finally, Fortitude Family Office LLC increased its position in Old Dominion Freight Line by 103.0% in the 1st quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 68 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Raymond James boosted their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. TD Cowen reduced their price objective on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a report on Friday, September 6th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Stephens restated an “overweight” rating and set a $214.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Finally, Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $201.83.

Old Dominion Freight Line Stock Down 5.2 %

NASDAQ:ODFL opened at $193.97 on Friday. The business’s fifty day moving average price is $196.20 and its 200 day moving average price is $196.01. The firm has a market capitalization of $42.15 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 3.92 and a beta of 0.99. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $1.33 earnings per share. Old Dominion Freight Line’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.